Hi guys
Price is on critical zone and support , 200ma on 3 day, plus +there is a big amounts of shorts , the problem with the shorts is they get funding and there is a big weird stuff with bitfinex premiuns , tether , etc etc.
Chart is bear and yes i believe 95% that 6k is not the botton as i analyzed on my previous log term charts.
But here we are looking for a play in the next hours or days : 2 scenarios > bear trap and pumping ( 6200/6300) , there is a lot of shorts compressed here and big stoploss at 68xx.
The other scenario is giving up and finally broke the structure and hitting 5k or 4780 and then revaluate the market + acumulation , plus traditional markets crashed yesterday so lets see whats up here .
Note if candle closes here alert and be safe markets like bitcoin are iliquid and crazy things could happen.
Whisperer
Price is on critical zone and support , 200ma on 3 day, plus +there is a big amounts of shorts , the problem with the shorts is they get funding and there is a big weird stuff with bitfinex premiuns , tether , etc etc.
Chart is bear and yes i believe 95% that 6k is not the botton as i analyzed on my previous log term charts.
But here we are looking for a play in the next hours or days : 2 scenarios > bear trap and pumping ( 6200/6300) , there is a lot of shorts compressed here and big stoploss at 68xx.
The other scenario is giving up and finally broke the structure and hitting 5k or 4780 and then revaluate the market + acumulation , plus traditional markets crashed yesterday so lets see whats up here .
Note if candle closes here alert and be safe markets like bitcoin are iliquid and crazy things could happen.
Whisperer
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i change chart from bitfinex to coinbase , cause premiun difference
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Looks bad... tomorrrow close 3d chart below 200ma xbt / gdax / bitstamp
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bitfinex chart , holding close but not reliable at all with all this stuff around
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1d bitfinex chart holding horizontals lines